Listing agreement amendment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012 I have a query whether along with the audited results for the financial year are we required to submit the audit report as the clause 41 I c states other than the last quarter.

Please give your views on this asap. The clause is reproduced hereunder:

41. The company agrees to comply with the following provisions:
I) Preparation and Submission of Financial Results
a. The financial results filed and published in compliance with this clause shall be prepared on the basis of accrual accounting policy and in accordance with uniform accounting practices adopted for all the periods.
b. The company shall submit its quarterly, year to date and annual financial results to the stock exchange in the manner prescribed in this clause.
c. The company has an option either to submit audited or unaudited quarterly and year to date financial results to the stock exchange within forty-five days of end of each quarter (other than the last quarter), subject to the following:
i In case the company opts to submit unaudited financial results, they shall be subjected to limited review by the statutory auditors of the issuer (or in case of public sector undertakings, by any practicing Chartered Accountant) and such limited reviewed results (financial results accompanied by the limited review report) shall be submitted within forty-five days from the end of the quarter.
ii In case the company opts to submit audited financial results, they shall be accompanied by the audit report.
d. The company shall submit audited financial results for the entire financial year, within sixty days of the end of the financial year. The company shall also submit the audited financial results in respect of the last quarter alongwith the results for the entire financial year, with a note that the figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.